AAA: NE gas prices up 23 cents since Harvey hit

07/09/2017

October West Texas Intermediate crude rose 6 cents, or 0.1%, to settle at $US47.29 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude was trading at $52.75, per barrel, down by 0.21 per cent when the markets closed on Friday.

But now, analysts say the price of gas may continue to spike because of Harvey's impact and a new hurricane that is expected to wreak more havoc later this week. That was fueled by the fact that much of its impact fell on refineries and shipping ports along the Gulf Coast, taking away about 25 percent of production capacity.

"Depending on how devastating Hurricane Irma becomes, it will temporarily decide the direction of crude and gasoline prices", Ahn Yea Ha, a commodities analyst at Kiwoom Securities, said by phone in Seoul. NYMEX gasoline futures were down 4.2 per cent to $1.6755 a gallon, levels last seen on August 25, the day Harvey struck.

Demand for crude is set to rise as refinery capacity recovers, while the shortage that has buoyed gasoline prices is likely to ease.

But then Harvey knocked out about a quarter of USA refining capacity and shuttered transport routes for crude, gasoline, diesel and other products.

Refineries are quickly returning to production and only about 11 percent of all US refining capacity remained closed on Monday, Commerzbank said in a report. About a quarter of USA refining capacity was shuttered.

USA government data Thursday showed a 30 billion-cubic-foot weekly rise in natural-gas supplies, "the smallest build for the comparable week going back to 2003", said Richard Hastings, macro strategist at Seaport Global Securities. Now, depending on the track of Hurricane Irma, this could potentially send prices soaring or crashing on gas, depending on where she makes land fall.

This lack of demand has sent oil prices down to their lowest levels since late July (see Fig. 1). Meanwhile, pipelines forced to take pre-cautionary shut downs caused by Harvey either have resumed operations or are in the process of coming back online.

The latest violence began on Aug 25, when Rohingya insurgents reportedly attacked dozens of police posts and an army base. Myanmar's military has indiscriminately killed hundreds of Rohingya Muslims since last October.

By the time Moses scored with a pile -driver in the 56 minute from an exchange with Moses Simon, the game was over as a contest. Nigeria's dominance continued in the second half, with Moses ending a blistering counterattack with a goal in the 54th minute.

Slovakia and Hungary insisted in their lawsuits that the quota mechanism should have been passed unanimously. Poland supported the plan, but later strongly opposed it when the right-wing PiS government came to power.

During the speech he boasted that the United States was "advising me about strategies to change the dictatorship in Cambodia". The government last month billed The Daily for $6.4 million in taxes and was later told to pay the bill or "pack up and go".

The decision compelled clerics to demand the match be cancelled outright, or else Iran's football team should refuse to play. State-run television, which is planning to broadcast the game live, has lined up special programs for the event.

On Saturday, Huawei's CEO Richard Yu took the stage at IFA in Berlin to introduce their new Kirin 970 system on a chip (SoC). Basically the AI processing on smartphones powered by the Kirin 970 will be much faster than other phones.

South Korean President Moon Jae-In has previously urged limits on Seoul's missiles to be loosened in a conversation with Trump. Tensions on the Korean Peninsula are at their highest point in years after a series of missile tests by Pyongyang.

Schartzman, at 5ft 7in (1.70m), was the shortest Slam quarter-finalist since same-height Peruvian Jaime Yzaga at the 1994 US Open. Momentum swung firmly in Carreno Busta's favour at 3-4 in the second set after the Spaniard fell behind 0-40.

Drivers can expect to see sobriety checkpoints during the campaign, along with more troopers on major highways during this detail. There were 51 DUI arrests and 283 crashes past year during the Labor Day holiday weekend, state police said.

Cornerstone Capital Management Ltd Liability Corporation stated it has 0.04% of its portfolio in Cerner Corporation (NASDAQ:CERN). Koch Industries Inc. acquired a new stake in shares of Marvell Technology Group during the second quarter worth $654,000.

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